Aloro Announces Proposed Issuance of Shares for Advisory Services

January 23, 2019

ALORO MINING CORP. (the “Company”) is pleased to announce that it has agreed to issue 200,000 common shares (the “Shares”) of the Company, at a deemed price of $0.15 per Share, to Axemen Resources Capital Ltd. (“Axemen”) in consideration for advisory services performed by Axemen between July 1, 2018 and December 31, 2018.

The Shares to be issued will be subject to a statutory hold period expiring four months and one day after issuance. The issuance of the Shares is subject to the final approval of the TSX Venture Exchange.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.